Even as the largest actively managed stock mutual funds in the U.S. lag behind the S&P 500, the oldest funds are doing nicely. Funds that survived the 1929 stock market crash, including Central Securities (ticker: CET), Adams Diversified Equity (ADX), and General American Investors (GAM). These closed-end funds might not be bargains, but they’re all up 30%-plus this year.
When activist investors in the rough-and-tumble world of closed-end funds put forward a slate of board nominees, they usually select employees or others already allied with them. But in a proxy battle at a Nuveen fund, the hedge fund Saba Capital has landed a rare catch as one of its nominees: an independent fund director currently serving at an open-end complex.
CEFA is back on the meeting trail with an advisor event set for 2020 in South Florida. As a CEFA member, you can participate in the Advisor Summits at various levels, including attending an event and displaying your firm’s collateral at no cost. You can maximize your firm’s visibility by participating as a sponsor. Learn more.
From podcasts to webinars, we offer a range of opportunities for collaboration. Be sure to get on the calendar and take advantage of this insightful member benefit.
CEFA’s national Secondary Marketing Program is designed to directly engage advisors and clients with a continuous stream of content and support. Click to learn more about how your firm can benefit from the program.